Charleston industrial market report
Q3 2024
The Charleston industrial market remains active heading into the end of 2024. Asking rental rates are rising despite an increase in vacancy, and the construction pipeline is cooling with just 1.7 msf currently underway. As construction activity slows, and leasing activity picks up, vacancy rates will begin to stabilize and put the market in a good position for 2025.
81.7%
Construction
Industrial construction pipeline has significantly cooled, down 81.7% from the same time in 2023.
2.7 msf
Leasing
The market remains active as 2.7 msf of new leases have been signed year-to-date.
4.7%
Rental rates
Asking rental rates are up 4.7% year-over-year.
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